Mizuho Securities USA LLC Sells 3,454 Shares of Nucor Corporation (NYSE:NUE)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Nucor Corporation by 15.5%, now owning 18,801 shares valued at approximately $2.26 million.
• Nucor reported $2.60 earnings per share (EPS) for the latest quarter, beating analyst estimates, with a net margin of 4.21% and revenue of $8.46 billion.
• The company announced a quarterly dividend of $0.55 per share, representing an annual yield of 1.6% and a payout ratio of 39.71%.

Mizuho Securities USA LLC reduced its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,801 shares of the basic materials company's stock after selling 3,454 shares during the quarter. Mizuho Securities USA LLC's holdings in Nucor were worth $2,263,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. purchased a new stake in Nucor during the 1st quarter valued at about $194,804,000. Vanguard Group Inc. lifted its stake in shares of Nucor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after purchasing an additional 745,671 shares during the period. GAMMA Investing LLC lifted its stake in shares of Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock valued at $60,867,000 after purchasing an additional 502,961 shares during the period. First Trust Advisors LP raised its stake in Nucor by 24.6% during the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after buying an additional 474,274 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Nucor by 528.6% during the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after buying an additional 426,949 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

NYSE NUE traded up $1.14 on Friday, hitting $145.49. 2,177,819 shares of the company traded hands, compared to its average volume of 1,710,382. The company has a market capitalization of $33.40 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 0.92 and a beta of 1.74. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The business's 50 day moving average price is $135.77 and its 200-day moving average price is $126.91. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%. Nucor's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 earnings per share. Equities analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, June 30th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 30th. Nucor's payout ratio is currently 39.71%.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the sale, the executive vice president directly owned 94,080 shares in the company, valued at approximately $12,265,209.60. The trade was a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the sale, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,109 shares of company stock worth $3,360,094. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NUE shares. Morgan Stanley lifted their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. UBS Group cut their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Wells Fargo & Company raised Nucor to a "hold" rating in a report on Thursday. Finally, Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and an average target price of $155.78.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.